As another week starts to unfold in the markets today with the commencement of another trading, it is now time for investors to take a look at some of the stocks which may be worth tracking. One of the companies which may come into focus among investors this morning is E3 Lithium (OTCMKTS:EEMMF), which has seen its stock make strong moves in the past few trading days.
Last Friday the stock had continued on its upward move and had ended the day with gains of 9%. That took the gains made by the stock over the course of the past week to as much as 70%. In light of such massive gains, it is only natural if the stock manages to come into focus today in a big way, and hence, investors could do well to take a closer look at E3 Lithium.
Trading Data
On Friday, EEMMF stock surged 9.23% to $2.09 with more than 222K shares traded, compared to a volume of 41K shares. The stock moved within a range of $1.9500 – 2.2100 after opening trading at $1.95.
About The Company
E3 Lithium is actually a development company, which is involved in the fast-growing lithium mining sector. The company currently boasts of inferred mineral resources to the tune of 7 million tons of lithium carbonate equivalent as its property in Alberta. In addition to that, E3 Lithium also has an NVP of 8% at the Clearwater Lithium Project.
One of the more important aspects of the company that investors out to note is that the company is well-known for the DLE Technology and more importantly, E3 Lithium has been successful in scaling up the technology as well for successful commercialization. The company’s ultimate is to come up with lithium products of high quality that are ready for deployment in batteries.
E3 Lithium begins drilling first lithium evaluation well in Alberta
The company has come into focus last Friday among investors following a key announcement with regards to its property in Alberta.
The company announced that it had started its drilling activities at the lithium evaluation well situated in Alberta. It was also noted that the drilling activities are going to be completed at some point in the middle of next month. It was a major new announcement from the company and one that is likely to bring it into focus among investors in a big way.
Key Quote
“We are very excited about drilling and completing the first well in Alberta specifically targeting lithium,” said Chris Doornbos, CEO of E3. “We are working with a local Alberta company, CWC Energy Services’ drilling division, Ironhand, using a conventional oil and gas drill rig. This is an example of the benefits of operating in Alberta; having the ability to mobilize local equipment operated by local Albertans.”
Technical Data
EEMMF stock is trading above the 20-Day and 50-Day Moving averages of $1.54 and $1.71 respectively. Moreover, the stock is trading above the 200-Day moving average of $1.86.
